Business Today
Markets recover

The 30-share index rose by 87.49 points, or 0.45 per cent to 19,959.64 points on the back of recovery in oil and gas, metal, banking and realty sector stocks. Nifty moved up by 28.65 points or 0.47 per cent to 6,010.75 points.

Thursday, October 21, 2010

3.30 pm: Sensex bounced back sharply on Thursday gaining 362.25 points or 1.82 per cent to close at provisional 20,234.40. The BSE 30-share index touched a high of 20,293.10 from a low of 19,886.12 early in the day. Top index gainers were Hindalco (5.13 per cent), Bharti Airtel (4.87 per cent), Hindustan Unilever (3.95 per cent), Cipla (3.41 per cent), ITC (3.12 per cent), RIL (2.98 per cent) and SBI (2.96 per cent). NTPC was the only loser, down 0.32 per cent.

3.05 pm:
Alstom Projects India has reported standalone net profit of Rs 37.04 crore for the quarter ended September 30, lower from Rs 48.93 crore for the quarter ended September 2009. Net sales was at Rs 313.36 crore, against Rs 480.62 crore for the same quarter of the previous year. On NSE, the company's shares were down 2.5 per cent, at Rs 802.80, after rising to a high of Rs 830.90.

2.38 pm:
TVS Motor Company has reported standalone net profit of Rs 54.78 crore for the quarter ended September 30, up Rs. 24.55 crore for the corresponding quarter of 2009. Net sales stood at Rs 1,589.83 crore compared with Rs 1,115.41 crore for the quarter ended September 2009. On NSE, the company's shares were higher by 2.36 per cent at Rs 75.80.

2.00 pm:
Ashoka Buildcon has announced the completion and start of toll collection on its Bhandara toll road project on National Highway No 6. The project, with a project cost of Rs 535 crores, is the largest toll road project commissioned till date by Ashoka Buildron. On NSE, Ashoka Buildcon shares were up 0.86 per cent at Rs 320.80.

1.36 pm:
ACC has announced consolidated net profit of Rs. 86.31 crore for the quarter ended September 30, against Rs 415.51 crore for the corresponding quarter of 2009. Net sales was Rs. 1,759.17 crore against Rs 2,077.38 crore for the same period last year.

1.05 pm:
Sterlite Technologies has posted standalone net profit of Rs 57.55 crore for the quarter ended September 30, against Rs 54.67 crore for the corresponding quarter of 2009. Net sales stood at Rs 509.44 crore, against Rs 465.83 crore for the same quarter last year.

12.30 pm:
Allahabad Bank has posted standalone net profit of Rs 402.56 crore for the quarter ended September 30, against Rs 333.59 crore for the corresponding quarter of 2009. Interest earned was Rs 2,636.92 crore versus Rs 2,046.69 crore for the same quarter of 2009. Interest expended was Rs 1,667.73 crore against Rs 1,443.43 crore last year.

12.05 pm:
Indiabulls Financial Services has reported consolidated net profit of Rs 172.67 crore for the quarter ended September 30, sharply higher from Rs 71.12 crore for the quarter ended September 2009. Net sales was at Rs 541.35 crore, compared with Rs. 296.59 crore for the corresponding quarter of 2009.

11.30 am:
Nirmal Bang has advised traders to accumulate Ballarpur Industries with stop-loss of Rs 36. "Accumulate Ballarpur Industries with medium term perspective keeping a stop-loss of Rs 36. Huge delivery based volume witnessed on Wednesday. Immediate target seen at Rs 42 & 46 in the longer run," the report said.

11.00 am: Tecpro Systems has been awarded an engineering project worth Rs 710 million by Engineering Projects (India) Ltd. The company will undertake design, engineering, supply, installation, testing and commissioning of Conveyor Package and Associated Works for the project. On NSE, Tecpro shares were higher by 5.67 per cent at Rs 405.20.

10.40 am: The board of directors of Shiva Cement is scheduled to meet on October 30 to approve unaudited quarterly results for the quarter ended September 30; review capacity expansion project; consider issue of equity share warrants on preferential basis to promoters at a price of Rs 11 (including Rs 9 as premium) for part funding of capacity expansion and to consider issue of bonus shares. On BSE, the company's shares shot up over 10 per cent to Rs 11.05.

10.15 am: IIFL is of the view there is no immediate threat to the uptrend in Reliance Industries. The stock is likely to witness sharp upmove once it moves above Rs 1,065-level. "After signaling breakout from falling resistance line above Rs 1,035, Reliance has been holding well above the trendline, despite weakness in broader market...We advise entering stock above Rs 1,065, with stop loss of Rs 1,045 for target of Rs 1,105," the report said.

9.32 am: Among the top losers are ACC (-1.40 per cent), Infosys Technologies (-0.67 per cent), Tata Power (-0.54 per cent) and Jaiprakash Associates (-0.08 per cent).

9.30 am: Among the top gainers are Tata Consultancy Services (1.42 per cent), Tata Steel (1.36 per cent), Tata Motors (1.26 per cent), Hindalco (1.21 per cent), Reliance Communications (1.18 per cent), Bharti Airtel (1.17 per cent), Reliance Industries (1.08 per cent), Cipla (1.04 per cent).

9.27 am: The 30-share index rose by 87.49 points, or 0.45 per cent to 19,959.64 points on the back of recovery in oil and gas, metal, banking and realty sector stocks

9.27 am: Nifty was trading above 6k mark at 6015.85, gaining 33.75 points or 0.56 per cent.

9.15 am: Markets were up, with investors buying at the lower levels.

Get latest news & live updates on the go on your phone with our News App. Download The Business Today news app on your device
More from MARKETS